Zynga CEO Claims They Can Double Their Paying Customers
Zynga (ZNGA) Chief Executive Officer Mark Pincus boldly said his company could double the number of its paying customers. That’s ambition for a company Zynga’s size. Companies such as Electronic Arts (NASDAQ:ERTS) and Activision (NASDAQ:ATVI) are making big moves in the social gaming space where Zynga had a first mover advantage.
Speaking at a luncheon with potential investors, Pincus made the declaration without a time frame, according to Reuters. Zynga, with its renowned FarmVille and Mafia Wars games, had approximately 6.7 million unique players at the end of September. Within this number, less than 3% of Zynga’s total numbers include paying players.
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This week, Zynga executives have been on a roadshow as the company gets ready for next week’s $900 million-plus IPO.
Zynga Chief Financial Officer David Wehner also commented today at lunch that the company has targeted an adjusted EBITDA in the “40% range.”
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